Alibaba to sell american e-commerce assets to US based social shopping platform OpenSky
1 July 2015, 12:11
0
517
Alibaba will give OpenSky 11main.com, Auctiva, Vendio and SingleFeed in exchange for about a 37% stake in OpenSky.
Compared with Alibaba's Chinese online shopping websites, 11main.com is a very small business and it is reportedly difficult for this American subsidiary to gain attention or support from Alibaba's Chinese headquarters in Hangzhou. This lack of attention may suggest Alibaba does not have the international management expertise or expansion ability to get past the Great Wall and grow around the world.
Founded in 2009, OpenSky originally provided online trade platform services to well-known bloggers and it gradually transformed into a social shopping platform. At present, the company claims to have 50,000 vendors, two million kinds of products, and five million members.
Compared with Alibaba's Chinese online shopping websites, 11main.com is a very small business and it is reportedly difficult for this American subsidiary to gain attention or support from Alibaba's Chinese headquarters in Hangzhou. This lack of attention may suggest Alibaba does not have the international management expertise or expansion ability to get past the Great Wall and grow around the world.
Founded in 2009, OpenSky originally provided online trade platform services to well-known bloggers and it gradually transformed into a social shopping platform. At present, the company claims to have 50,000 vendors, two million kinds of products, and five million members.
